XML 38 R18.htm IDEA: XBRL DOCUMENT
v3.22.0.1

GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The activity in goodwill by reportable segment for the years ended December 26, 2021 and December 27, 2020 were as follows:
| December 27, 2020 |  | Additions |  | Currency Translation |  | December 26, 2021
| (In thousands)
U.S. | $ | 41,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,936 |
U.K. and Europe | 835,505 |  |  | 350,364 |  |  | (18,357) |  |  | 1,167,512 |
Mexico | 127,804 |  |  | — |  |  | — |  |  | 127,804 |
Total | $ | 1,005,245 |  |  | $ | 350,364 |  |  | $ | (18,357) |  |  | $ | 1,337,252 |
| December 29, 2019 |  | Additions |  | Currency Translation |  | December 27, 2020
| (In thousands)
U.S. | $ | 41,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,936 |
U.K. and Europe | 806,207 |  |  | — |  |  | 29,298 |  |  | 835,505 |
Mexico | 125,607 |  |  | 2,197 |  |  | — |  |  | 127,804 |
Total | $ | 973,750 |  |  | $ | 2,197 |  |  | $ | 29,298 |  |  | $ | 1,005,245 |
Identified intangible assets consisted of the following:
| December 27, 2020 |  | Additions |  | Amortization |  | Currency Translation |  |  |  | December 26, 2021
| (In thousands)
Carrying amount: |  |  |  |  |  |  |  |  |  |  |
Trade names not subject to amortization | $ | 405,240 |  |  | $ | 214,047 |  |  | $ | — |  |  | $ | (9,574) |  |  |  |  | $ | 609,713 |
Trade names subject to amortization | 78,343 |  |  | 36,825 |  |  | — |  |  | (900) |  |  |  |  | 114,268 |
Customer relationships | 297,062 |  |  | 164,285 |  |  | — |  |  | (5,888) |  |  |  |  | 455,459 |
Non-compete agreements | 320 |  |  | — |  |  | — |  |  | — |  |  |  |  | 320 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |
Trade names | (47,486) |  |  | — |  |  | (2,409) |  |  | (6) |  |  |  |  | (49,901) |
Customer relationships | (143,246) |  |  | — |  |  | (23,963) |  |  | 913 |  |  |  |  | (166,296) |
Non-compete agreements | (320) |  |  | — |  |  | — |  |  | — |  |  |  |  | (320) |
Total | $ | 589,913 |  |  | $ | 415,157 |  |  | $ | (26,372) |  |  | $ | (15,455) |  |  |  |  | $ | 963,243 |
| December 29, 2019 |  | Additions |  | Amortization |  | Currency Translation |  | December 27, 2020
| (In thousands)
Carrying amount: |  |  |  |  |  |  |  |  |
Trade names not subject to amortization | $ | 391,431 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,809 |  |  | $ | 405,240 |
Trade names subject to amortization | 78,343 |  |  | — |  |  | — |  |  | — |  |  | 78,343 |
Customer relationships | 292,278 |  |  | — |  |  | — |  |  | 4,784 |  |  | 297,062 |
Non-compete agreements | 320 |  |  | — |  |  | — |  |  | — |  |  | 320 |
Accumulated amortization: |  |  |  |  |  |  |  |  |
Trade names | (45,518) |  |  | — |  |  | (1,968) |  |  | — |  |  | (47,486) |
Customer relationships | (120,481) |  |  | — |  |  | (20,747) |  |  | (2,018) |  |  | (143,246) |
Non-compete agreements | (320) |  |  | — |  |  | — |  |  | — |  |  | (320) |
Total | $ | 596,053 |  |  | $ | — |  |  | $ | (22,715) |  |  | $ | 16,575 |  |  | $ | 589,913 |
For additional information regarding the additions in above tables, refer to “Note 2. Business Acquisitions.” Intangible assets are amortized over the estimated useful lives of the assets as follows:
Customer relationships | 3-18 years
Trade names subject to amortization | 15-20 years
Non-compete agreements | 3 years
The Company recognized amortization expense related to identified intangible assets of $26.4 million in 2021, $22.7 million in 2020 and $22.9 million in 2019. The Company expects to recognize amortization expense associated with identified intangible assets of $35.4 million in 2022, $34.3 million in 2023, $33.3 million in 2024 and $33.3 million in 2025, and $31.3 million in 2026. As of December 26, 2021, the Company assessed qualitative factors to determine if it was necessary to perform quantitative impairment tests related to the carrying amounts of its goodwill or its identified intangible assets not subject to amortization. Based on these assessments, the Company determined that it was not necessary to perform quantitative impairment tests related to the carrying amount of its goodwill nor its identified intangible assets not subject to amortization at that date. As of December 26, 2021, the Company assessed if events or changes in circumstances indicated that the aggregate carrying amount of its identified intangible assets subject to amortization might not be recoverable. There were no indicators present that required the Company to test the recoverability of the aggregate carrying amount of its identified intangible assets subject to amortization at that date.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration